State pension plan £580 a week and retirement age 60 in 'living wage' campaign
A petition to Parliament is demanding the state pension increase to the equivalent of 48 hours a week at the National Living Wage, which pays £12.21 an hour for workers
Campaigners are rallying for a dramatic increase in the state pension to over £30,000 a year and a reduction in the age of eligibility to 60. A petition to Parliament is demanding that the state pension be equivalent to 48 hours a week at the National Living Wage, which currently stands at £12.21 an hour for workers aged over 21.
The campaign also advocates for a significant reduction in the retirement age to 60 - the current state pension age is 66 for both men and women, and is set to rise to 67 between 2026 and 2028. The petition implores: "We want the Government to make the state pension available from the age of 60 & increase this to equal 48hrs a week at the National Living Wage."
Hence from April 2025 a universal state pension should be £586.08 per week or about £30,476.16 per year as a right to all including expatriates, age 60 and above.
"Such a hike would more than double the full new state pension rate, which currently stands at £230.25 a week, or £11,973 a year. The campaigners have also voiced concerns that the government intends to make the state pension system less generous.The petition states: "We think that government policy seems intent on the state pension being a benefit not paid to all, while ever increasing the age of entitlement. "We want reforms to the state pension, so that it is available to all including expatriates, from age 60, and linked to the National Living Wage, for security."
If the petition garners 10,000 signatures, the government will be obliged to respond. If it reaches a whopping 100,000 supporters, the issue could be up for debate in Parliament, reports the Express.
To qualify for the full new state pension, you generally need a record of 35 years of National Insurance contributions. The full basic state pension currently stands at £176.45 a week, and typically requires 30 years of contributions.
Individuals can check their projected state pension using the state pension forecast tool on the government website. State pension payments see an annual increase each April, thanks to the triple lock policy, which determines the percentage increase for payment rates.
The triple lock ensures a pay rise in line with the highest of either inflation, average earnings growth, or 2.5 per cent. Based on recent figures, the earnings metric looks set to be the key determinant for next April's increase, standing at 5.3 per cent in the latest data.
Inflation was recorded at 3.4 per cent for the year to May, a slight decrease from 3.5 per cent for the year to April.
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